Highsun Group to Invest in Electric Vehicle and Internet Lending Industries
Yicai Global
/SOURCE : Yicai
Highsun Group to Invest in Electric Vehicle and Internet Lending Industries

(Yicai Global) Sept. 26 -- Guangdong Highsun Group Co. Ltd. [SHE:000861], whose core interests include real estate, property rental and department stores are to expand their portfolio to emerging industries, including cloud computing, electric vehicles and online finance.

Following their recently announced cooperation with China Unicom on a cloud computing data base project, the company now plans to jointly invest in electric car companies and online small-loan providers.

The new venture, Guangzhou Highsun Weilan New Energy Technology Co. Ltd., and DiShangTie Car Rental (Shenzhen) Co. Ltd. will jointly set up the tentatively named the Electric Vehicle Logistics Company with investments of CNY65 million and CNY35 million, respectively.

The new company will operate electric car leasing, charging stations and logistics businesses. In addition, they will respectively invest CNY 4.5 million and CNY 5.5 million to set up a joint venture engaged in online finance.

Highsun's new trading partner DiShangTie Car Rental (Shenzhen) Co. is a manufacturer of electric car charging stations. It has established partnerships with a number of electric car manufacturers, such as BYD, China's biggest manufacturer battery-driven vehicles, the companies jointly announced.

DiShangTie Car Rental said that by taking advantage of Highsun's superior resources in commercial operations and property sites, it will actively expand its business in Internet car booking, timeshare leasing and car leasing. The joint venture will also create bases for electric vehicles and battery charging services.

The company also said it will set up the Guangzhou Highsun Internet Small-Loan Co., as a wholly owned subsidiary with registered capital of CNY 100 million, that will offer micro-lending. This will form the basis of a financial service platform, to be called Highsun Financial Services.

Highsun Group also released an announcement on Sept. 19 that it will cooperate with the Guangzhou Branch of China Unicom to operate a cloud computing database project in Guangzhou Highsun Fair Trade City.

The project involves the construction of high-grade data centers with 2,000 racks in the first phase with a goal of subsequently setting up a large-scale cloud data base in South China with 10,000 racks.

Highsun Group will provide sites, buildings, external electrics and other infrastructure, while China Unicom will be responsible for the construction of infrastructure facilities and network infrastructure, and eventually for external sales and operations.

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